HUDSON GATEWAY ASSOCIATION OF REALTORS , INC.

HUDSON GATEWAY ASSOCIATION OF REALTORS , INC.HGAR60 South Broadway, White Plains, New York 10601914.681.0833 Fax 914.681.6044 www.HGAR.com9CoatesDrive,Suite 1, Goshen, New York 10924 845.294.7905HUDSON GATEWAYASSOCIATION OF REALTORS , INC.2 Medical Park Drive, Suite 17A, West Nyack, New York 10994 845.735.0075 July 10, 20152015 SECOND QUARTER RESIDENTIAL REAL ESTATE SALES REPORTWestchester, Putnam, Rockland and Orange Counties, New YorkReal estate sales surged in the second quarter of 2015, eclipsing last year’s second quartersales by 14.8%. Realtors participating in the Hudson Gateway Multiple Listing Service, Inc., asubsidiary of the Hudson Gateway Association of Realtors, Inc., reported a grand total of 3,669closed residential transactions in the MLS’s four-county service territory, 474 more than lastyear. The transactions included single-family houses, condominiums, cooperatives, and 2-4unit multi-family houses, and generally reflected listing and marketing activity that took placeduring the opening months of the year.The strong second quarter performance built on the first quarter’s results, which itself hadposted a gain of 12.1% over 2014’s level. On a year-to-date basis there were 6,460 salesconstituting an increase of 12.4% over last year’s half-year results.By far the largest gain in sales activity occurred in Orange County, where total sales of 742units – mostly houses and condominiums - surpassed last year’s second quarter by 30.4%.Orange County’s market has been powered in the last several years by an abundance of verymoderately priced properties. The second quarter median sale price1 of a single family houseREALTOR is a registered mark which identifies a professional in real estate who subscribes to a strictCode of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS .

was 209,950, nearly 10% less than last year’s median. The condominium median was 151,625, about 8.0% below last year’s level. Inventory in Orange has stayed in roughproportion to the rate of sales, indicating a balanced market with ample choices for prospectivepurchasers.In Rockland County, second quarter sales were 11.2% higher than in 2014. The median saleprice of a single family house was 410,000, just a third of a percentage point higher than in2014. Putnam County followed the same pattern with a 12.3% gain in sales volume and amoderate 1.6% increase in its median-priced house, to 289,500.The main engine for sales volume in the Hudson Gateway region is Westchester County.During the second quarter the county accounted for 2,183 sales or about 60% of the region’stotal. All four property types tracked by the MLS showed healthy sales increases ranging from8.4% for single family houses to 59% for multi-family properties. The median sale price of asingle family house was 660,500, just 1.4% more than last year. The mean1 sale price of ahouse was 866,707, also barely increased from last year. The two measures togetherstrongly suggest that the Westchester market was in balance as to a smooth distributionacross the pricing spectrum.The sales data from these four counties indicate a region that has achieved a good level ofsustainability in its real estate market. Sales volumes are strong. Notwithstanding field reportsof bidding wars and other indicators of overheated markets, the fact from the data is there isample choice at most price points and that price increases have been more or less in line withinflation. Also, the inventory situation, while different in each county, is not so difficult in any ofthem as to suppress the market or drive up prices.

Outside factors could spoil the market, but there is no immediate threat from any of them. Forexample, unemployment, which can discourage prospective purchasers from even thinking ofbuying a property, has steadily decreased in all four counties. In May, in Westchester, theunemployment rate was 4.6%; last year it was 5.0% and in 2013 it was 6.2%. The othercounties have followed a similar pattern.Steadiness with mortgage interest rates has also contributed to healthy sales activity, both inour region and across the country. The average rate on a 30-year conventional loan seemsnailed to a plank at 4.0% and near vicinity. Action to increase the Federal Reserve rate laterthis year may – or may not – drive up mortgage rates as well. There is no necessary linkagebetween the two, but even should there be an increase, if it is small and carefully phased in,the real estate market in our area as it is today can handle it. Sustainability is what we have.# # #The Hudson Gateway Multiple Listing Service, Inc. (HGMLS) is a subsidiary of theHudson Gateway Association of Realtors, Inc. (HGAR). The MLS’s principal serviceterritory consists of Westchester, Putnam, Rockland and Orange Counties. It alsoprovides services to Realtors operating in Bronx, Dutchess, Sullivan and UlsterCounties. The reported transactions do not include all real estate sales in the area orall sales assisted by the participating offices but they are fairly reflective of generalmarket conditions. HGMLS does not provide data on sub-county geographic areas.Persons desiring sub-county data are invited to contact participating real estate officesin the desired areas. Any text or data from this report may be reprinted with attributionto Hudson Gateway Multiple Listing Service, Inc. as the source. Prior reports datingback to 1981 are available on the Realtor Association’s website, www.hgar.com; clickon Market Statistics. A membership directory searchable by municipality is alsoavailable on that site.1The median sale price is the mid-point of all reported sales, i.e., half of theproperties sold for more than the median price and half for less. The median isrelatively unaffected by unusually low or high sale prices. The mean sale price is thearithmetic average, i.e., the sum of all sales prices divided by the number of sales.The mean does reflect the influence of sales at unusually low or high prices.Four tables follow, one each for Westchester, Putnam, Rockland and Orange Counties

WESTCHESTER COUNTYWESTCHESTER - Second Quarters 2012-2015Property Type 2012 Q22013 Q22014 Q22015 Q2% Change2014-2015NUMBER OF SALES, 2ND QUARTERSingle Family HousesCondominiumsCooperatives2-4 18311.4%NUMBER OF SALES - YEAR TO DATE (6/30)Single Family HousesCondominiumsCooperatives2-4 354355085666741573,0393,5753,4853,8039.1%Single Family HousesCondominiumsCooperatives2-4 3.3%321,750350,000421,000377,500-10.3%Single Family HousesCondominiumsCooperatives2-4 0.6%MEDIAN SALE PRICEMEAN SALE PRICEEND OF QUARTER INVENTORYSingle Family HousesCondominiumsCooperatives2-4 6,1566,3426,050-4.6%

PUTNAM COUNTYPUTNAM - Second Quarters 2012 - 2015Property Type2012 Q22013 Q22014 Q2% Change2015 Q22014-2015NUMBER OF SALES, 2ND QUARTERSingle Family Houses1CondominiumsCooperatives122-4 163-50.0%18021020422912.3%NUMBER OF SALES - YEAR TO DATE (6/30)Single Family 4 ndominiums112MEDIAN SALE PRICESingle Family HousesCondominiums1Cooperatives12-4 160,000176,000175,000-0.6%MEAN SALE PRICESingle Family HousesCondominiums1Cooperatives12-4 160,000164,333175,0006.5%END OF QUARTER (6/30) INVENTORYSingle Family 2-4 1,1021.9%Condominiums111Condominiums & Cooperatives were counted together prior to 2014. The number of co-opsales was and is very slight and does not significantly affect totals or percentages.22-4 Family House end of quarter inventory in Putnam was not compiled prior to 2013.

ROCKLAND COUNTYROCKLAND - Second Quarters 2012 - 2015 % ChangeProperty TypeSingle Family HousesCondominiums11Cooperatives2-4 FamilyTotal2012 Q22013 Q22014 Q2 2015 Q2NUMBER OF 319-17.4%14101210-16.7%40543646351511.2%NUMBER OF SALES - YEAR TO DATE (6/30)Single Family HousesCondominiums11Cooperatives2-4 439-11.4%21183130-3.2%73578583994212.3%MEDIAN SALE PRICESingle Family HousesCondominiums11Cooperatives2-4 %270,000261,500325,000325,0000.0%MEAN SALE PRICESingle Family HousesCondominiums11Cooperatives2-4 3%260,993281,720290,167349,00020.3%END OF QUARTER INVENTORYSingle Family 26431519.3%Cooperatives2-4 ,4341,83628.0%11Condominiums & Cooperatives were counted together prior to 2014. The number of co-opsales was and is very slight and does not significantly affect totals or percentages.22-4 Family House end of quarter inventory in Rockland was not compiled prior to 2014.

ORANGE COUNTYORANGE - Second Quarters 2012 - 2015Property Type2012 Q22013 Q22014 Q2% Change2015 Q22014-2015NUMBER OF SALESSingle Family HousesCondominiums11Cooperatives2-4 7314235.5%53864856974230.4%NUMBER OF SALES - YEAR TO DATE (6/30)Single Family HousesCondominiums11Cooperatives2-4 5na5459558656.4%9401,1271,0681,36027.3%MEDIAN SALE PRICESingle Family HousesCondominiums11Cooperatives2-4 80,000125,000129,0003.2%MEAN SALE PRICESingle Family HousesCondominiums11Cooperatives2-4 1104,343118,868154,10229.6%END OF QUARTER INVENTORYSingle Family ooperatives2-4 4123.5%Condominiums11Condominiums & Cooperatives were counted together prior to 2014. The number of co-opsales was and is very slight and does not significantly affect totals or percentages.22-4 Family House end of quarter inventory in Orange was not compiled prior to 2014.

Sep 02, 2018 · sales by 14.8%. Realtors participating in the Hudson Gateway Multiple Listing Service, Inc., a subsidiary of the Hudson Gateway Association of Realtors, Inc., reported a grand total of 3,669 closed residential transactions in the MLS’s four-county service territory, 474 more than last year.